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the limit on the consumption bundles that a consumer can afford
a curve that shows consumption bundles that give the consumer the same level of satisfaction
marginal rate of substitution
the rate at which a consumer is willing to trade one good for another
two goods with straight-line indifference curves
two goods with right-angle indifference curves
the change in consumption that results when a price change moves the consumer to a higher or lower indifference curve
the change in consumption that results when a price change moves the consumer along a given indifference curve to a point with a new marginal rate of substitution
a good for which an increase in the price raises the quantity demanded
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